ETV Bharat / Indian Jewellery Segment

Indian Jewellery Segment

With gold smuggling on the rise and the price of the precious metal skyrocketing to Rs 63,000 per 10 gm, the Indian jewellery segment hopes that Union Finance Minister Nirmala Sitharaman will reduce customs duty on gold, which is denting retail sales. Currently, the basic customs duty on gold is about 12.5% and an additional 2.5% has to be given as agricultural infrastructure cess. In addition, there is a Goods & Services Tax (GST) of 3%

Indian Jewellery Segment Wants Reduction in Import Duty of Gold to Boost Sales

3 Min Read

Feb 14, 2024

ETV Bharat English Team

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